There was an interesting story in the Nine Media papers yesterday:
Lachlan Murdoch’s Fox Corp circles Tabcorp
The Murdoch family’s US media business Fox Corporation has been working with other investors on a potential bid for parts of ASX-listed gaming operator Tabcorp.The Los Angeles based company, which is run by billionaire media scion Lachlan Murdoch, has also registered a trademark for its betting arm FOXBet in Australia, in a sign the company is considering an assault on the local wagering industry.
Hardly surprising the younger Murdoch generation has been talking about Entertainment which this could be considered as. Further with its government legislative support (like media) it is obviously close to their heart of an ideal business. As to be owned by a US based entity this is also a flick of the legislative pen. This may also give oppurtinity for lovely tax loopholes.
Large discussion story on the possible move by Murdoch to purchase/take over Lotto. Today’s SMH 20 03 2021 business section. I wrong about the younger generation leading the charge, it was both generations.
NewsCorp were original stakeholders of Lotto Management Services (LMS) with ACP (Packer) in NSW.
Wran when Premier made it a part of NSW State Lotteries. LMS would have received a great price at the time. Pools were also a part of this deal.
We would need to be careful of this takeover as well for Murdoch has such on-line presence and the behaviour pattern is established.
Sports betting side of Tabcorp (except racing) would be worth getting rid of for Tabcorp and good fit for Fox. Highly doubt the super funds will want Tabcorp to let go of racing and especially the increasing returns of the Lott.
The Sports betting side of Tabcorp and all other gaming is already under offer.
If it proceeds then theu will only have The Lott left.